Let's just go even further into debt

[retro]

Democrats propose $1.9T increase in debt limit - Yahoo! News

Fuck being fiscally responsible and cutting spending, lets just acquire even more motherfucking debt. This has to stop.

 

[Pabst]

from the article...

The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations.

so we're going to increase our "spending limit" so we can borrow more to pay against money we owe someone else so we dont default? did i get that right? and this is a good idea because??????

 

[Accountable]

Because the quicker we destroy the dollar, the easier it will be to gut the rest of the system.

I guess it's time for me to go shopping for hunting gear.

 

[Peter Parka]

Democrats propose $1.9T increase in debt limit - Yahoo! News

Fuck being fiscally responsible and cutting spending, lets just acquire even more motherfucking debt. This has to stop.

This is pretty much what is happening in Australia though and its dragging the country out of the recession. Dont be so quick to knock something just because it was put forward in your country by the Democrats.

 

[Accountable]

This is pretty much what is happening in Australia though and its dragging the country out of the recession. Dont be so quick to knock something just because it was put forward in your country by the Democrats.

You don't get it. This is the second or third time in the past year. Also Australia is smaller than Texas or California, population-wise. Completely different situation. Apples and bowling balls.

 

[Meirionnydd]

You don't get it. This is the second or third time in the past year. Also Australia is smaller than Texas or California, population-wise. Completely different situation. Apples and bowling balls.

Normally macroeconomic policy, such as stimulus packages, are passed by the legislature incrementally, not just in one instance, so unfortunately, I would expect more of these measures in the near future.

And just to quickly expand on your original point of Australia's different economic situation. When the first phase of our economic stimulus plan was passed in late 2008, the budget was in surplus, and there was no Federal debt. Even with all these measures being passed, around $77 billion in total, debt as a percentage of GDP, won't exceed 10%, which is well below other advanced economies.

In any case, the economic stimulus has kept unemployment somewhat stable, and there has been stable economic growth. So I support the government taking an more interventionist role in the economy. However, if living in the US, I would be skeptical about the same measures being passed, considering the level of debt and the large defect.

 

[Accountable]

Yup, we were already deep in a hole, and I think this group of yahoos are planning to keep digging until we pop out the other side.

.............................................................. That's China over there, ain't it? :humm:

 

[Minor Axis]

Because the quicker we destroy the dollar, the easier it will be to gut the rest of the system.

I guess it's time for me to go shopping for hunting gear.

How exactly did we get here? If no money had been dumped into the system after 8 years of so called "conservative" rule, I believe the depression would have been much worse. And I don't like the fact that initially large sums of money were thrown at banks, by a Republican Administration basically no questions asked.

When the conservatives in the crowd start looking at our society and governance in real terms and assign blame to all applicable parties, then we can have an intelligent discussion. I'm not happy with the Democrats, but the actions of the Republican Party are inexcusable, scorched earth governance, their way or the highway, zero compromise, stop Obama even when he is pushing something something they agree with, because this Democratic President can be allowed no victories. That is not governance, it's gross negligence. I wonder if I'll ever be able to vote for a Republican again. Yes, you are not a Republican, but show me a viable Libertarian candidate...

 

[Accountable]

How exactly did we get here? If no money had been dumped into the system after 8 years of so called "conservative" rule, I believe the depression would have been much worse. And I don't like the fact that initially large sums of money were thrown at banks, by a Republican Administration basically no questions asked.

When the conservatives in the crowd start looking at our society and governance in real terms and assign blame to all applicable parties, then we can have an intelligent discussion. I'm not happy with the Democrats, but the actions of the Republican Party are inexcusable, scorched earth governance, their way or the highway, zero compromise, stop Obama even when he is pushing something something they agree with, because this Democratic President can be allowed no victories. That is not governance, it's gross negligence. I wonder if I'll ever be able to vote for a Republican again. Yes, you are not a Republican, but show me a viable Libertarian candidate...

You've been gone for awhile and have alot of backreading to do before tossing that accusation, even then I'm not sure you're up for intelligent discussion.

 

[nova]

Normally macroeconomic policy, such as stimulus packages, are passed by the legislature incrementally, not just in one instance, so unfortunately, I would expect more of these measures in the near future.

And just to quickly expand on your original point of Australia's different economic situation. When the first phase of our economic stimulus plan was passed in late 2008, the budget was in surplus, and there was no Federal debt. Even with all these measures being passed, around $77 billion in total, debt as a percentage of GDP, won't exceed 10%, which is well below other advanced economies.

In any case, the economic stimulus has kept unemployment somewhat stable, and there has been stable economic growth. So I support the government taking an more interventionist role in the economy. However, if living in the US, I would be skeptical about the same measures being passed, considering the level of debt and the large defect.

There's a lot of difference between a cyclical deficit and a structural one. Cyclical deficits are not good but they're not a collapse waiting to happen. A continual structurual deficit like we have is what I like to call "the express train to hell."